Eylon Musket, an engineer, has been working at his friend’s construction firm on a part time basis for the past 5 years. As of May 1, 2023, Eylon decided to pursue his dreams of operating his own business as an engineering consultant and trading specialised items for the construction
industry. He rented office and store space at the REGAL Business Spaces Complex and executed the following transactions during May 2023:

May 1 Eylon invested the following assets into the business: cash of $150,000; office equipment of $400,000; and a bank balance of $300,000.
May 1 Paid rent for May by cheque $125,000 and purchased a mini pick-up motor van on credit from Yokoyahama Inc. for $650,000.
May 3 Bought office furniture from Corporate Office Interiors, paying by cheque $185,000 and bought merchandise for resale by cheque $540,000.
May 4 Sold merchandise to Ashtray Business, for cash $90,000.
May 5 Sold merchandise on credit to Weeprof Construction $400,000.
May 5 Sold merchandise on credit to Newbian-11 Construction $95,500.
May 6 Weeprof Construction settled 50% of its account balance with cash receiving a 5% cash discount. (Tip: do a rough check of the balance owed by Weeprof Construction)
May 7 Merchandise valued at $35,500, sold to Nubian-11 Construction on May 5, was returned to Eylon Musket. A credit note was given to Nubian-11 Construction.
May 7 Sold merchandise on credit to J.P. Millet Ltd $88,000.
May 10 Bought merchandise on credit from IMAC plc $22,000.
May 13 Received a long-term loan from MJJC Bank for $450,000 by cheque and also bought stationery for cash $15,000.
May 17 Bought merchandise on credit from Camel Equipment $17,500.
May 17 Lodged cash to the business bank account $130,500
May 21 Eylon took some merchandise for renovation of his mother’s town house amounting to $85,000
May 22 Paid Camel Equipment in full settlement of the balance outstanding by cheque having received a discount of $2,500 (Tip: do a rough check of the balance owed to Camel Equipment)
May 24 Commission received by cheque of $60,000 and cash of $38,000.
May 25 Paid wages by bank transfer $140,000 and cash $20,000.
May 28 Purchased merchandise on credit from LCS for $57,000.
May 31 Paid electricity by cheque $24,800 and accounting system maintenance of $12,000 by cheque.

REQUIRED:
a) Journalize the transactions for the month. (Narrations are not necessary)
b) Post the above transactions in the General ledger